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|Trustees||D Neuwirth
BStone
AWeis
RWeis
SWeis|||
|---|---|---|---|---|
|Secretary||BStone|||
|Charity number||1104484|||
|Company|number|05070736|||
|Registered|office|59 Kings Road|||
|||Prestwich|||
|||Manchester|||
|||M25 OLQ|||
|Auditor||Lopian Gross Barnett &Co|||
|||1st Floor Cloister House|||
|||Riverside,|New|Bailey Street|
|||Manchester|||
|||M3 5FS|||
|Bankers||Barclays Bank|||
|||25 Cheetham||Hill Road|
|||Manchester|||
|||M4 4FL|||
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|||Page|
|---|---|---|
|Trustees'
report||1-4|
|Statement of Trustees'|responsibilities||
|Independent
auditor's|report||
|Statement
offinancial|activities||
|Balance sheet||10|
|Statement
ofcash flows|||
|Notes to the financial|statements|12-21|
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||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2022|2021|
|||Notes||6|
|Income from:|||||
|Donations
and legacies||3|4,700|14,718,750|
|Investments||4|21,097,970|21,000,450|
|Total income|||21,102,670|35,719,200|
|~E*
dlt|||||
|Property
holding|costs|6|3,737,980|3,460,845|
|Charitable
activities||5|13,861,480|15,596,974|
|Total resources|expended||17,599,460|19,057,819|
|Net gains on investments||11|1,528,582|40,482,282|
|Net income for the year/|||||
|Net movement|in funds||5,031,792|57,143,663|
|Fund balances at 1 January 2022|||409,016,757|351,873,094|
|Fund balances|at 31 December 2022||414,048,549|409,016,757|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|f|5|
|Fixed assets|||||||
|Investment|properties|||13|419,904,558|415,551,607|
|Current assets|||||||
|Debtors||||14|1,972,615|2,620,727|
|Cash at bank and||In|hand||36,374,910|37,308,798|
||||||38,347,525|39,929,525|
|Creditors:|amounts||faglng due within||||
|one year|||||(11,714,553)|(10,458,794)|
|Net current|assets||||26,632,972|29,470,731|
|Total assets less||current llablgtles|||446,537,530|445,022,338|
|Creditors:|amounts||faglng due after||||
|more than|one year|||17|(32,488,981)|(36,005,581)|
|Net assets|||||414,048,549|409,016,757|
|Income lunds|||||||
|Unresiricted|funds||||414,048,549|409,016,757|
||||||414,048,549|409,016,757|
##
|||2022|2021|
|---|---|---|---|
||Notes|f||
|Cash flows from operating
activities||||
|Cash absorbed
by operations|21|(15,644,078)|(3,223,884)|
|Investing
activities||||
|Purchase ofinvestment
property||(2,914,692)|(36,424,428)|
|Proceeds on disposal ofinvestment
property||90,323|77,638,196|
|Repayment
ofinvestment
loans and
receivables||139|(410)|
|Interest and rent received from investments||21,097,970|21,000,450|
|Net cash generated
from investing
activities||18,273,740|62,213,808|
|Financing
activities||||
|Repayment
ofbank loans||(3,563,550)|(34,179,892)|
|Net cash used in financing
activities||(3,563,550)|(34,179,892)|
|Net (decrease)/increase
in cash and
equivalents|cash|(933,888)|24,810,032|
|Cash and cash equivalents
at beginning|ofyear|37,308,798|12,498,766|
|Cash and cash equivalents
at end of|year|36,374,910|37,308,798|
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|3|Donations and legacies|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2022|2021|
|||f||
||Gift aid receivable|4,700|14,718,750|
|4|Investments|||
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2022|2021|
|||6|6|
||Rental income|20,788,116|20,965,934|
||Interest receivable|309,854|34,516|
|||21,097,970|21,000,450|
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|||||Heading|Heading|
|---|---|---|---|---|---|
|||||¹ac982|¹ac982|
|||||2022|2021|
||||||8|
|Direct costs||||||
|Charitable|grants to institutions|||13,807,741|15,533,914|
|Share of|suppok and governance||costs (see note 7)|||
|Support||||17,113|30,478|
|Governance||||36,626|32,582|
|||||13,861,480|15,596,974|
|Analysis
by
Unrestricted||fund
funds||13,861,480|15,596,974|
##
|Property||holding costs||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||Unrestricted|Unrestricted|
|||||||||funds|funds|
|||||||||2022|2021|
|||||||||f|8|
|Ground|rents, insurance||premiums,|legal|and professional|fees||2,432,257|1,775,666|
|Interest|payable|||||||1,305,723|1,685,179|
|||||||||3,737,980|3,460,845|
|Suppok|costs|||||||||
||||Support||Governance|2022|Suppok|Governance|2021|
|||||costs|costs||costs|costs||
||||||6||6|9||
|Support|costs||17,113|||17,113|30,478||30,478|
|Audit fees|||||35,000|35,000||27,500|27,500|
|Accountancy|||||1,626|1,626||5,082|5,082|
||||17,113||36,626|53,739|30,478|32,582|63,060|
|Analysed||between||||||||
|Charitable||activities|17,113||36,626|53,739|30,478|32,582|63,060|
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|Net gains/(|loss|es)
on in|vestmen|ts|||
|---|---|---|---|---|---|---|
||||||Unrestricted|Unrestricted|
||||||funds|funds|
||||||2022|2021|
||||||f|6|
|Revaluation|of|investment|properties||1,528,582|24,155,779|
|Gain/(lass)|on|sale ofinvestment||properties||16,326,503|
||||||1,528,582|40,482,282|
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||||||2022|
|---|---|---|---|---|---|
||||||6|
|Fair value||||||
|At 1 January 2022|||||415,551,607|
|Additions|through|acquisitions||and giRs|2,923,830|
|Disposals|||||(90,323)|
|Net gains|or losses through||fair value adjustments||1,528,582|
|Other changes|||||(9,138)|
|At 31 December 2022|||||419,904,558|
##
|Debtors|Debtors|||
|---|---|---|---|
|Amounts
falling due within one year:||2022
8|2021f|
|Trade debtors||1,098,250|1,726,370|
|Other debtors||317,724|179,828|
|Prepayments|and accrued income|556,641|714,529|
|||1,972,615|2,620,727|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||6|f|
|Bank loans||||33,395,031|36,958,581|
|Payable|within one year|||906,050|953,000|
|Payable|after one year|||32,488,981|36,005,581|
|Amounts|included|above which|fall due after five years:|||
|Payable|other than|by instalments|||12,167,500|
##
|||Notes|2022f|2021
6|
|---|---|---|---|---|
|Bankloans||15|906,050|953,000|
|Other taxation and social security|||730,663|736,930|
|Trade creditors|||1,770,159|1,390,865|
|Other creditors|||3,398,522|2,842,302|
|Accruals and deferred|income||4,909,159|4,535,697|
||||11,714,553|10,458,794|
##
|Creditors: amounts
falling due after|more than one year|||
|---|---|---|---|
||Notes|2022f|2021|
|Bankloans|15|32,488,981|36,005,581|
##
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|||At|At|1January
2022||Incoming
resources|Resources
expended|Gains and
losses|Gains and
losses|At 31
December|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2022|
|General funds|||409,016,757|||21,102,670|(17,599,460)||1,528,582|414,048,549|
|Previous year:||At||1January
2021||Incoming
resources|Resources
expended|Gains and
losses||At 31
December|
|||||||||||2021|
|||||6||||||6|
|Generalfunds|||351,873,094|||35,719,200|(19,057,819)|40,482,282||409,016,757|
|Unrestricted|funds -|[descriptionI|||||||||
|These are unrestricted||funds which|are material||to the charity's||activities,||||
||||||||Movement
in funds||||
|||||Balance at
Incoming
Resources|||||Revaluations,|Balance at|
|||||1January||2022
resources
expended|||gains and
losses|31 December
2022|
||||||||||6|6|
|Unrestricted|funds|||409,016,757
21,102,670 (17,597,035)|||||1,528,582|414,050,974|
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|Cash generated
from operations|Cash generated
from operations|||2022
6|2021
6|
|---|---|---|---|---|---|
|Surplus for the year||||5,031,792|57,143,663|
|Adjustments
for:||||||
|Investment
income recognised|in statement|offinancial|activities|(21,097,970)|(21,000,450)|
|Gain on disposal ofinvestment|property||||(16,326,503)|
|Fair value gains and losses on|investment|properties||(1 528 582)|(24 155779)|
|Movements
in working capital.||||||
|Decrease
in debtors||||647,973|454,348|
|Increase
in creditors||||1,302,709|660,837|
|Cash absorbed
by operations||||(15,644,078)|(3,223,884)|
##
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|22|Analysis ofchanges
In net funds||||
|---|---|---|---|---|
|||At 1January|Cash flows|At 31 December|
|||2022f||2022
6|
||Cash at bank and in hand|37,308,798|(933,888)|36,374,910|
||Loans falling due within one year|(953,000)|46,950|(906,050)|
||Loans falling due after more than one year|(36,005,581)|3,516,600|(32,488,981)|
|||350,217|2,629,662|2,979,879|